Why doesn't Monzo start offering wealth products

[Ordog]

@richiehart

Certainly. Tom has left, Monzo is in trouble, and as you rightly confirmed, in danger of following the same fate as Xinja

That article was debunked below:

Monzo in the media

This isn’t analysis at all, it’s just an opinion piece touted by an analytics company. Where it does try to make an overlap of a failed bank and Monzo isn’t even accurate. The very first comment: Monzo doesn’t pay above-market deposit rates. In Xinja’s case, paying above market deposit rates and failing to lend would lead to losses. In Monzo’s case, they pay less than the BoE rate (currently 0.1%) so deposits are a profitable segment of Monzo’s business, even without lending. To call this …